South America Automotive Airbag Market Outlook, 2029

South America Automotive Airbag Market Outlook, 2029

The South American automotive airbag industry stands on the precipice of profound transformation, propelled by a convergence of factors reshaping the automotive safety landscape across the region. As one of the key pillars of vehicle occupant protection, automotive airbags have assumed paramount importance amidst increasing vehicular traffic, regulatory mandates, and evolving consumer preferences for safer mobility solutions. South America, with its burgeoning automotive manufacturing sector and a growing emphasis on road safety, finds itself at the forefront of this paradigm shift. From the bustling production lines of Brazil to the emerging automotive markets of Argentina, Chile, and Colombia, the region pulsates with innovation and opportunity. Brazil, in particular, is a major hub for the production of automobiles, turning out millions of motorbikes, cars, and trucks every year. In order to assure occupant safety, airbag systems are becoming more and more necessary as automobile manufacturing increases. With rising awareness of road safety and the importance of vehicle occupant protection, consumers in South America are prioritising vehicles equipped with advanced safety features, including airbags. As safety consciousness grows, the demand for airbag-equipped vehicles increases. Rapid urbanisation in South American cities has led to congested road networks and increased traffic accidents. Airbags play a crucial role in mitigating the impact of collisions and reducing injuries in such environments, driving the demand for airbag systems. Governments across South America are implementing initiatives to improve road safety and reduce the number of road accidents. These initiatives often include campaigns to raise awareness about the importance of vehicle safety features, including airbags, driving the demand for airbag-equipped vehicles.

According to the research report, “South America Automotive Airbag Market Outlook, 2028,” published by Bonafide Research, the South America Automotive Airbag market is anticipated to grow with more than 5% CAGR from 2023–2028. Governments all across South America have imposed strict safety laws, which mean that cars must have airbags. Vehicle manufacturers must adhere to these requirements, which is what is driving demand for vehicle airbags. South America is a significant automotive manufacturing hub, particularly Brazil, which produces millions of vehicles annually. The rising volume of vehicle production in the region fuels the demand for airbag systems to ensure occupant safety. Furthermore, traffic accidents have escalated, and road networks have become more crowded in South American cities due to rapid urbanisation. Airbag systems are in high demand since they are essential for lessening the effects of crashes and minimising casualties. Automotive manufacturers in South America are adopting advanced airbag technologies to enhance vehicle safety and meet consumer demands. These advancements include smart airbag systems with occupant sensing technology, multi-stage deployment systems, and pedestrian protection features. South American consumers are becoming increasingly safety-conscious and are willing to invest in vehicles equipped with advanced safety features. As disposable incomes rise and safety awareness grows, the demand for airbag-equipped vehicles is expected to increase further. With growing awareness of road safety and the importance of vehicle occupant protection, consumers in South America prioritise vehicles equipped with advanced safety features, including airbags. This heightened safety consciousness drives the demand for airbag-equipped vehicles.

Market Drivers
• Rising Safety Awareness: With growing awareness of road safety and the importance of vehicle occupant protection, consumers in South America prioritise vehicles equipped with advanced safety features, including airbags. This heightened safety consciousness drives the demand for airbag-equipped vehicles.
• Urbanisation and Traffic Congestion: Rapid urbanisation in South American cities has led to congested road networks and increased traffic accidents. Airbags play a crucial role in mitigating the impact of collisions and reducing injuries, driving the demand for airbag systems.

Market Challenges
• Safety Perception: There can still be misunderstandings or gaps in South American customers' awareness of the significance of car safety components, such as airbags, despite attempts to increase awareness of these issues. To surmount these obstacles and foster trust in the efficacy of airbag systems, focused educational efforts and consumer engagement programmes are necessary.
• Technological Integration: It can be difficult to integrate cutting-edge airbag technology into cars while maintaining compatibility with the electronics and systems already in place. In order to smoothly integrate airbag systems into car platforms without sacrificing functionality or dependability, automakers must handle challenging integration procedures.

Market Opportunity
• Emerging Markets: South America is home to several emerging automotive markets, including Brazil, Argentina, Chile, Colombia, and Peru. These markets offer significant growth potential for automotive airbag manufacturers, as increasing vehicle ownership and rising disposable incomes drive demand for safety features.
• Aftermarket Segment: The aftermarket segment provides opportunities for the sale of replacement airbag components and systems for ageing vehicles. As the vehicle market in South America ages, there is a growing demand for airbag replacements and upgrades, presenting lucrative opportunities for aftermarket suppliers and service providers.

Based on the types, they are segmented into the frontal airbag, side airbag, knee airbag, and others. Furthermore, in terms of material types, they are segmented into nylon 6.6, polyester fibre, and others.

In South America, the knee airbag significantly contributes to the market. Advanced safety measures, such as knee airbags, are increasingly being installed in cars due to government rules and standards governing transportation throughout South America. These rules must be followed by automakers in order to guarantee compliance and market access, which encourages the incorporation of knee airbags into car designs. Rising consumer awareness of vehicle safety and the importance of occupant protection motivates demand for vehicles equipped with advanced safety technologies, such as knee airbags. South American consumers increasingly prioritise safety features when purchasing vehicles, influencing automakers to incorporate knee airbags as standard or optional equipment. Rapid urbanisation and congested road networks in South American cities contribute to a higher risk of frontal collisions. Knee airbags mitigate the risk of lower extremity injuries for occupants involved in such accidents, making them a valuable safety feature for vehicles operating in urban environments. In terms of the material types, the polyester Fibre significantly contributes to the market; polyester fibre is recyclable and can be produced using recycled materials, aligning with growing environmental concerns and sustainability initiatives in the automotive industry. Its eco-friendly properties make it a preferred choice for manufacturers aiming to reduce their environmental footprint. Polyester fibre is widely available and easily accessible in the South American market. Its abundant supply ensures a stable and consistent source of raw material for airbag production, reducing dependency on imported materials and minimising supply chain disruptions.

Based on the vehicle types, they are bifurcated into passenger vehicles and commercial vehicles. Furthermore, according to the report, the distribution channels are segmented into OEM and aftermarket.

Commercial vehicles significantly contribute to the automotive airbag market. In commercial vehicles, the safety of all occupants—including drivers and passengers—is of utmost importance. There is a greater emphasis on putting safety measures in place to safeguard people in the event of a collision because of the lengthy hours spent driving and the possibility of accidents. Airbags are a top focus for commercial vehicle manufacturers and operators because they help lessen the impact of accidents and lower the likelihood of casualties. Regulatory bodies in South America mandate the inclusion of airbag systems in commercial vehicles to enhance occupant safety and comply with safety standards. These regulations drive the adoption of airbags in commercial vehicles, ensuring compliance and market access for manufacturers and operators. Advances in airbag technology have made it more feasible and cost-effective to integrate airbag systems into commercial vehicles. Manufacturers can now offer a range of airbag configurations tailored to the specific needs of commercial applications, further driving adoption in this segment. Furthermore, the aftermarket is growing with the highest CAGR rate, and the rising vehicle ownership rates in South America contribute to a larger customer base for aftermarket products and services. As more vehicles enter the market, the demand for aftermarket airbags and related components increases, driven by the need for repairs, upgrades, and customization. Growing awareness of vehicle safety and occupant protection motivates vehicle owners to invest in aftermarket airbag systems to enhance the safety of their vehicles. Retrofitting vehicles with airbags or upgrading to advanced airbag technologies can provide peace of mind and improve overall safety performance. With increasing emphasis on vehicle safety features, including airbags, consumers are more inclined to invest in aftermarket upgrades to enhance the safety performance of their vehicles. Aftermarket airbag installations allow vehicle owners to customise their vehicles according to their safety preferences and requirements.

Based on the report, the major countries covered include Brazil, Argentina, Colombia, and the rest of South America.

Brazil boasts one of the largest automotive industries in South America, with a well-established manufacturing base and extensive production capabilities. The country is home to numerous automotive manufacturers, including domestic brands and international OEMs, which contribute to the significant production volume of vehicles equipped with airbag systems. Brazil produces millions of vehicles annually, ranging from passenger cars and commercial vehicles to motorcycles and trucks. The high volume of vehicle production drives the demand for airbag systems, as manufacturers prioritise occupant safety to comply with regulatory requirements and meet consumer expectations. With increasing awareness of road safety and the importance of vehicle occupant protection, Brazilian consumers prioritise vehicles equipped with advanced safety features, including airbags. This heightened safety consciousness drives the demand for airbag-equipped vehicles in the country. Brazilian automotive manufacturers and suppliers are at the forefront of technological advancements in airbag systems, including the development of smart airbag technologies, multi-stage deployment systems, and pedestrian protection features. These innovations contribute to the competitiveness of Brazilian-made vehicles in the global market and drive domestic demand for airbag-equipped vehicles.

The market is moderately fragmented, with a number of local players. These market competitors are attempting to increase their market share by implementing various marketing methods such as new product launches, investments, collaborations, and mergers and acquisitions. Companies are also investing in the creation of improved products. Furthermore, they are emphasizing on competitive pricing. In November 2020, INVISTA expanded its manufacturing facilities in China to meet worldwide demand. Various developmental tactics, including as business expansion, investments, new product launches, acquisition, partnerships, joint ventures, and mergers, promote market growth and provide attractive growth prospects for market participants.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Automotive Airbag market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Frontal Airbag
• Side Airbag
• Knee Airbag
• Others (Rear Airbags, Centre Console Airbags, Inflatable Seat Belts)

By Materials
• Nylon 6.6
• Polyester Fiber
• Other (Aramid (Nomex))

By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle

By Distribution Channel
• OEM
• Aftermarket

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Automotive Airbag industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.